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Moral Issues In Business Management

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Question:

Discuss about the Moral Issues in Business Management.
 
 

Answer:

Introduction:

Accountants mainly practice accountancy that measure, disclose or assure about the financial information. An accountant helps the manager, tax authorities and investor to make decision about t resources. In jurisdictions, accountants maintain the practice standard and evaluate the professional approach. Accountants are of various types like chartered accountant, certified public accountant and chartered certified accountant (Brouard, Bujaki, Durocher & Neilson, 2016). Sometimes, accountants help in the governmental works like making budget and maintenance of income tax. They have huge responsibility to maintain financial condition. For this reason, accountants are called professional. On the other hand, the function of a hair dresser is to cut or style the hair of other persons to maintain their personality or image. The hairdresser mainly cuts, colour, textures the hairs. However, hairdressers are not professional but the accountants are professional because the hairdressers do not help in the governmental work. Hairdressers apply different types of colour and pattern to stylish the look of a person. However, the number of hairdressers and accountants are increasing day by day. The job role of hairdresser is completely different from the accountants.

Obligation of professionals than non professionals

Professionals and non professionals have positive and negative both obligations. The positive obligation of professionals is to act according to the retainers. The professionals are bounded to their duties, client and third parties. They need to handle various situations and undertake professional improvement. Professional complies with the standard of professional. The negative obligation of professionals is that they should not be involved in deceptive concept or mislead any other person (Tuncay Zayer & Coleman, 2015). Processionals should not miss use the information and also should not engage in any type of insider trading. On the other hand, the unprofessional can engage themselves in misleading and deceptive conduct. They may engage themselves in unauthentic work, which is offensive. However, every employee should maintain the ethics. The unprofessional can bully or harass other employees. Use of loud and rude words is the signs of unprofessional behaviour. Unprofessional can demand special treatment and criticise other employees. The unprofessional can have passive aggressive attitude and bad personality. They may create violence, vexatious litigation or retribution. These points differ the professionals and unprofessional and the obligations are also different form each other. The unprofessional activities can be offensive.

 

Importance of understanding of ethics in business

In case of business, ethics should be maintained. Business ethics refers to the laws and guidelines of business experts and corporations, who operate a legal, fair and moral fashion. Business ethics guides the productivity of a workplace. The Foreign Corrupt Practices Act (1977) forbids the business executives and corporations to pay money to the foreign government to make the business secure (Choi & Davis, 2014). The main aim of business ethics is to reach to the employee loyalty or the management strength. The business reputation from the environmental community, individual investor and other businesses is to determine the worthwhile investment of the company. Ethical behaviour increases the public image positively with the consent behaviour of ethics. Business should be committed for operating an ethical foundation with the relation of employee treatment and respect the belonging environment. Business ethics are important for the potential investors and recent stakeholders (Stanwick & Stanwick, 2013). Business ethics helps to develop the reputation of a company and therefore it is very important to understand. It involves the stakeholders, employers and employees of a business and all of them should understand the ethics of business. The ethics of business should be maintained for the wellbeing of the business.

Adoption of safety standards in a multinational corporation

Multinational corporations need to adopt some safety standards to avoid workplace hazards. The multinational corporations need to align the safety and wellbeing of the workers with the international business strategy and values (Benn, Dunphy & Griffiths, 2014). The management should know the value of worker safety and wellbeing via the corporations and internationally. Managing system of he3alth and safety should align with the business culture and methods of the corporations. The management can implement strategies and policies with the incentive system; the workers will be motivated and will try to avoid hazards. For the development of the multinational corporations, adoption of safety standards is necessary. In corporation boardroom, the management can discuss the safety and health policies of the workers that aligned with the business methods (Cullen & Parboteeah, 2013). In an organization, the workers safety should have the best priority. The employees must understand the benefits of workers health and safety. The main challenge to adopt safety standards are the implementation of planning in progress. The multinational corporation management should use some basic tricks to implement the planning without any disturbance. However, the process may be time consuming.

 

References

Benn, S., Dunphy, D., & Griffiths, A. (2014). Organizational change for corporate sustainability. Routledge.

Brouard, F., Bujaki, M., Durocher, S., & Neilson, L. C. (2016). Professional Accountants’ Identity Formation: An Integrative Framework. Journal of Business Ethics, 1-14.

Choi, S. J., & Davis, K. E. (2014). Foreign Affairs and Enforcement of the Foreign Corrupt Practices Act. Journal of Empirical Legal Studies, 11(3), 409-445.

Cullen, J. B., & Parboteeah, K. P. (2013). Multinational management. Cengage Learning.

Stanwick, P., & Stanwick, S. D. (2013). Understanding business ethics. Sage.

Tuncay Zayer, L., & Coleman, C. A. (2015). Advertising Professionals’ Perceptions of the Impact of Gender Portrayals on Men and Women: A Question of Ethics?. Journal of Advertising, 44(3), 1-12.

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